FAIR VALUE DISCLOSURES (Tables)

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Schedule of recurring Level 3 fair value measurements of contingent consideration

The discounted cash flow method used to value this contingent consideration includes inputs of not readily observable market data, which are Level 3 inputs. The recurring Level 3 fair value measurements of contingent consideration for which a liability is recorded include the following significant unobservable inputs:

Payment Type	Valuation Technique	Unobservable Input	Assumptions
Profit-based milestone payments	Probability-weighted discounted cash flow	Discount rate	14.0%
		Projected fiscal year of payment	2024-2030
Product development-based milestone payments	Probability-weighted discounted cash flow	Discount rate	9.0%
		Probability of payment	100.0%
		Projected fiscal year of payment	2024

Schedule of changes in contingent consideration

The following table presents the changes in contingent consideration balances classified as Level 3 balances for the three and six months ended June 30, 2023 and 2022:

	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2023		2022		2023		2022
Beginning balance	$	36,019	$	32,053	$	35,058	$	31,000
Measurement period adjustment	—		—		—		300
Change in fair value	1,035		(1,095)		1,996		(342)
Ending balance	$	37,054	$	30,958	$	37,054	$	30,958

Schedule of financial assets and liabilities accounted for at fair value on a recurring basis

The following table presents our financial assets and liabilities accounted for at fair value on a recurring basis as of June 30, 2023 and December 31, 2022, by level within the fair value hierarchy:

(in thousands) Description	Fair Value at June 30, 2023		Level 1		Level 2		Level 3
Assets
Interest rate swap	$	9,174	$	—	$	9,174	$	—
Liabilities
Contingent consideration	$	37,054	$	—	$	—	$	37,054

Description	Fair Value at December 31, 2022		Level 1		Level 2		Level 3
Assets
Interest rate swap	$	8,759	$	—	$	8,759	$	—
Liabilities
Contingent consideration	$	35,058	$	—	$	—	$	35,058
CVRs	$	—	$	—	$	—	$	—